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Department of Community and Economic Development, and the Community and Economic <br />Development Committee's favorable recommendation, that the area herein described be <br />designated as an Economic Revitalization Area for purposes of personal property tax abatement <br />and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is for personal <br />property tax abatement only and shall be limited to two (2) calendar years from the date of the <br />adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is qualified <br />for and is granted property tax deduction for a period of five (5) years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of <br />this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to <br />Indiana Code 5 -3 -1, said publication providing notice of the public hearing before the <br />Common Council on the proposed confirming of said declaration. <br />SECTION VII. This Resolution shall be in full force and effect from and after its adoption by <br />the Common Council and approval by the Mayor. <br />PRESENTED � -Z -q / <br />NOT APPROVED <br />ADOPTED 6-B-97 <br />Member of the Common Council <br />3 <br />Filed in Clerk's Office <br />JUN t 5 ts37 <br />LORETTA J. DUDA <br />CITY CLERK, SO. BEND, IN. <br />